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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Dave O. who wrote (96)	6/6/1999 3:52:00 PM
From: Tai Jin	Respond to of 18137

Now I focus on quality trades. I believe in trading efficiency which to me means a high return per trade. So scalping is not for me. I use TA and will ride a trend for a few minutes up to hours depending on the rate of movement. I also agree with the poster who said that it's better to concentrate on a few stocks. When jumping from one stock to another many times it's easier to get into an unknown situation where a mistake is more likely to occur. I also trade part time. Most of the money is made in the first few hours and the last couple of hours of trading. Since I live in California, I can trade a few hours in the morning and go to work (although the incentive to go to work is greatly diminished when I've made $5k in the morning :-). But I do feel that I've missed out on trading at the close while I'm at work. That's why my trading style combines day trading and position trading. Sometimes it's important to just quit while you're ahead. This is related to the don't over trade rule. Many times after I've made a good profit I continue to trade only to end the day with a loss. Why? The urge to trade is based on emotions and that can overcome rational trading decisions. You'll be looking for trades where there aren't any. When you are on a roll and you say to yourself, just one more trade, then it's time to quit. You'll be grateful that you did. ...tai